Do AI weather models miss extremes?

AI weather models are often reported to underestimate extremes, but most evidence concerns deterministic regression models verified against reanalysis. We evaluate twelve physical and AI forecast models against ECMWF IFS using ten months of European station observations. The evaluation covers 10 m wind, 2 m temperature, solar radiation, and precipitation within regimes defined from a fixed ERA5 1991-2020 climatology. We find no uniform AI-specific deficit in the tails. Several AI models remain more accurate than IFS under extreme conditions, while others deteriorate markedly; comparable variation occurs among physical models. Every model nevertheless exhibits a common conditional-error pattern, overpredicting low observations and underpredicting high observations. Attenuation of extreme values therefore does not imply a uniform loss of relative skill: tail performance depends on the model, variable, and evaluation setting rather than on whether the forecast is produced by AI or physical numerical modelling.